Short Interest in Avis Budget Group, Inc. (NASDAQ:CAR)

Avis Budget Group, Inc. (NASDAQ:CAR – Get Rating) was the recipient of a significant drop in short interest in the month of June. As of June 30th, there was short interest totalling 3,980,000 shares, a drop of 20.7% from the June 15th total of 5,020,000 shares. Currently, 8.4% of the company’s stock are short sold. Based on an average daily trading volume, of 1,050,000 shares, the short-interest ratio is currently 3.8 days.

Avis Budget Group Trading Up 5.2 %

Shares of CAR stock opened at $160.33 on Wednesday. The stock has a 50 day moving average of $172.60 and a 200 day moving average of $205.11. The stock has a market cap of $7.74 billion, a P/E ratio of 4.95 and a beta of 2.11. Avis Budget Group has a twelve month low of $68.28 and a twelve month high of $545.11.

Avis Budget Group (NASDAQ:CAR – Get Rating) last announced its quarterly earnings results on Monday, May 2nd. The business services provider reported $9.99 earnings per share for the quarter, beating the consensus estimate of $3.54 by $6.45. The company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Avis Budget Group had a negative return on equity of 635.44% and a net margin of 19.13%. During the same period last year, the business earned ($0.46) earnings per share. On average, research analysts predict that Avis Budget Group will post 39.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Ad Tradewins

The Safest Option in Trades!

If you’re new to trading, then you’ve probably heard the wrong thing about options—that they’re risky, unpredictable, or difficult.
And it couldn’t be more wrong! With the Hughes Optioneering Strategy, you’ll soon learn that the safest option for new accounts is options themselves!

Several equities analysts have issued reports on the company. Bank of America lowered Avis Budget Group from a “neutral” rating to an “underperform” rating and cut their target price for the company from $250.00 to $240.00 in a research note on Wednesday, April 6th. Deutsche Bank Aktiengesellschaft lowered their price target on Avis Budget Group from $238.00 to $184.00 and set a “hold” rating for the company in a report on Wednesday, July 13th. StockNews.com downgraded Avis Budget Group from a “buy” rating to a “hold” rating in a report on Thursday, July 14th. Morgan Stanley lowered their price target on Avis Budget Group from $156.00 to $140.00 and set an “underweight” rating for the company in a report on Thursday, July 14th. Finally, Barclays decreased their target price on Avis Budget Group from $223.00 to $158.00 and set an “equal weight” rating for the company in a report on Tuesday, July 5th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $182.40.

Insider Activity

In other news, Chairman Bernardo Hees purchased 26,000 shares of the business’s stock in a transaction dated Wednesday, May 18th. The shares were purchased at an average price of $189.90 per share, for a total transaction of $4,937,400.00. Following the completion of the purchase, the chairman now owns 422,142 shares in the company, valued at approximately $80,164,765.80. The purchase was disclosed in a document filed with the SEC, which is available at this link. Over the last 90 days, insiders have bought 83,734 shares of company stock worth $14,792,435. Company insiders own 37.30% of the company’s stock.

Institutional Trading of Avis Budget Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Lindbrook Capital LLC increased its position in shares of Avis Budget Group by 737.5% in the first quarter. Lindbrook Capital LLC now owns 134 shares of the business services provider’s stock valued at $35,000 after buying an additional 118 shares in the last quarter. TCI Wealth Advisors Inc. increased its position in shares of Avis Budget Group by 79.5% in the first quarter. TCI Wealth Advisors Inc. now owns 158 shares of the business services provider’s stock valued at $42,000 after buying an additional 70 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Avis Budget Group in the fourth quarter valued at approximately $33,000. Ellevest Inc. increased its position in shares of Avis Budget Group by 130.3% in the second quarter. Ellevest Inc. now owns 205 shares of the business services provider’s stock valued at $30,000 after buying an additional 116 shares in the last quarter. Finally, First Quadrant LLC CA purchased a new stake in shares of Avis Budget Group during the first quarter worth approximately $57,000.

About Avis Budget Group

(Get Rating)

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; the Budget Truck brand, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 20,000 vehicles, which are rented through a network of approximately 465 dealer-operated and 385 company-operated locations that serve the consumer and light commercial sectors in the continental United States; and the Zipcar brand, a car sharing network.

Recommended Stories

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in Avis Budget Group right now?

Before you consider Avis Budget Group, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Avis Budget Group wasn’t on the list.

While Avis Budget Group currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here

About the Author: AKDSEO

You May Also Like